OnlyFans buys ETH with part of company profits

Felix International, the parent company of UK-based adult content platform OnlyFans, announced in its annual financial report released on Thursday that some of the company’s capital has been invested in Ethereum. It was not specified when the purchase was made or what the amount was.

Like many companies, OnlyFans is known to seek ways to integrate crypto and blockchain technologies into the platform. The company announced last year that it would allow users to use Ethereum-based NFTs as profile pictures and activated this feature. On the other hand, although pressure has been put on the platform to accept cryptocurrencies, no statement has been made in this direction yet.

According to the report submitted to Companies House, the government agency that keeps track of all companies in the UK, the company’s revenues exceeded $1 billion for the first time in 2022. Ukrainian Leonid Radvinsky, owner of OnlyFans, also received a dividend of 485 million dollars on this income. In addition, the company stated that more than 50 million new users and over 1 million new creators signed up in the 12 months leading up to November 2022. It was recorded that users spent a total of 5.5 billion dollars on the site during 2022. Thus, in 2022, sales increased by 17 percent to $1.1 billion, while profit before tax increased by 21 percent to $525 million.

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